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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
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...Institutional Shareholder Services, another high-profile shareholder adviser, is recommending shareholders vote in favour of Abrdn’s proposals at its meeting....
...But regulators are studying the liquidity risks being stored up in these strategies, and the potential spillover effects for the wider financial sector....
...Chicago-based Grant Thornton is the seventh largest accounting firm in the US after the Big Four, RSM and BDO, with $2.4bn in revenue in its past financial year, which ran to July 2023....
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...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...Houlihan Lokey has hired Scott Kirkby as a managing director for its European financial services and technology team. He previously worked for Bupa....
...See if you can you can spot why: Portfolios ended 2023 with “a record tilt toward momentum” and “the largest tilt towards growth since 2016”, says Goldman Sachs in its latest hedge fund tracker....
...The shift makes Citadel Securities the latest financial services company to increase its reliance on Big Tech cloud services and is a win for Google as Silicon Valley companies host more business traditionally...
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...The Financial Times first reported that Cfius was scrutinising the transaction last July, amid concerns in Washington over the UAE’s ties to China....
...Oil and refined products is one area where the available data on supply levels, demand patterns and logistical variables has ballooned in recent years, Barrack told the Financial Times....
...In the UK, asset managers also continue to report outflows from their actively managed funds, as investors turn to cheaper index trackers....
...Wells Fargo and Wilmington Savings Fund Society are named in the suit having allegedly provided administration services to FCI. They have been contacted for comment. How big a deal might all this be?...
...The Financial Times last week asked Apollo about its billing practices after the appeals court ruling....
...If Microsoft is the most valuable company in the S&P 500, then Microsoft will be the largest recipient of money from an S&P 500 index-tracker....
...TPG has invested in partnerships such as talent agency Creative Artists Agency and registered investment adviser LPL Financial in recent years, and last year it made an unsuccessful pitch to buy into in...
High-speed trading firm sued hedge fund last week over lucrative options trading strategy it claims were stolen
...Bhavesh Mistry, British Land’s chief financial officer, said the company estimated that 1mn sq ft of new or refurbished space would be delivered each year from 2024-2027, compared with 2mn sq ft of typical...
Decision hurts David Handler’s chances of securing potentially millions of dollars in equity he sought from the elite M&A boutique
...Jamie Dimon, JPMorgan’s chief executive, cautioned last month that fast-growing new financial products “often become an area of unexpected risk in the markets”....
...On Monday, the Virginia-based bank said it had agreed to acquire Discover Financial Services for $35bn, to be paid all in stock....
...The Spanish lender hired Morgan Stanley M&A banker David Luwisch, former Jefferies industrials banker David Bradley and former Bank of America financial sponsors banker Andrew Greenwald....
...Among the latest actions, the PCAOB found that PwC ignored red flags in its audit of Aegean Marine Petroleum Network, one of the world’s largest traders of shipping fuel, which went bust in 2018 as a result...
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